GBPCHF high probable bullish setupprofessionals adding long positions in gbp, while chf all the time high resistance area and suspect medium term bearish reversal in chf.
Oilanalysis
UKoil Brentwith breaking of resistance the next line of resistance could be the next target even as Convid-19 is still rampaging and affecting oil imports in china.
thank you for your likes kindly comment on your views
USOIL: An interesting lookHappy New Year oil traders! I hope everyone had a profitable 2019 and will have an even more profitable 2020! I started looking at USOIL in different chart views instead of the normal 15 minute chart or daily chart. Looking at the 1 hour chart I see this nice climb in price and then this huge rounding over. I also see a divergence between the Stoch RSI and Moneyflow. Considering tomorrow is Thursday and the first trading day of the year, I am expecting that this rounding will continue to roll over as investors take profits from 2019. I put in a small position at $61.30 on Tuesday and am looking to take a small profit around $60.90 unless this goes into free fall, in which I will add to the position. I am putting a stop loss in around $62.00. This should go prior to the market open on Thursday. We'll see.
Please click the thumbs up if you agree or if this is a help to you! Thanks and have a blessed 2020!!!
Crude oil poised for a rally up to $85 OR down to $33???Crude oil has been on a good uptrend since the large 2018 retrace, the price has slowly trickled up and there is an indication that it continues. ONLY IF certain conditions are met. There is an equal likelihood that we could see a large dump...
Support structure is holding really well after a broke high on a larger scale at $53.00-$53.50. As of recent price has gone up a lot in the winter month due to high demand but could this be temporary seasonal inflation?
The Bull case: Price has been holding upside market structure over the past few weeks and months holding support at the $53.00-53.50 area, the trend is holding well and the downside volume has been decreasing. We need to see price break above $64.00 on a longer perspective on strong volume into the $70.00 area or so then retrace and hold that broken peak at the $64.00 as support. We want to see price then move through the $73.50-73.60 level.
The Bear case: Price overall is looking bearish based on the monthly candles lower lows lower highs from 2013 even, the impulse high that has to hold is at $73.60. As long as price remains beneath that level we could see a press lower. The buy volume is looking really weak as well to the swings higher, which means this could be seasonal buying of crude which could evaporate. If price breaks below $53.00-53.50 and holds it as resistance on the retrace we might see a move even lower down to the $33.00 area and even below that.
Disclaimer: This is a trade idea for educational purposes only. This does not constitute as investment or trading advice. TRADEPRO Academy is not responsible for any market activity.
Crude oil hits our target area, is there more? $62.00??Oil has been on a tear this week and its mainly due to a lot of OPEC/OPEC+ talk. The upside came out on news of production cuts hitting the system shortly and we were anticipating price hitting the $60.00 area or near at least. That target was easily hit this week and now we have to question where could it go from here?
There are two possibilities:
1) The price could regulate and drop back below $58.70 and remain in the $57.00 area based on the weaker volume on these last moves higher and also the fact that the production cut news has already been priced in. It may be deemed overpriced by market participants and we can identify that if the $58.20 level breaks which is the impulse that brought price higher and price continues to drop below that holding it resistance on rotations.
2) Oil prices could continue going up and our target is $62.00. This is based on the current market structure of a strong uptrend. Higher highs and higher lows, for this to continue we can experience a pullback to
$58.60-58.70 based on the previous broken high and then continued move higher.
Disclaimer: This idea is for educational purposes only this does not constitute as investment or trading advice. TRADEPRO Academy is not responsible for any market activity.
WTICOUSD came in major resistance zone.WTICOUSD came in major resistance zone. It is fibonacci 50% retracement.
Crude oil strong bullish setup USOIL, WTI, CRUDE OIL, oil price in range between 55.00- 58.00, high probability to break resistance level 58.00, in such case next target will be 60.00 & even may be 61.00
USOIL IHS Pattern finished? Morning everyone,
So it looks like oil is still in the chute for a price movement. Typically after an Inverse Head and Shoulders pattern, we see the price go up the same distance that can be measured between the head and the right shoulder. There is room for a follow through, but we are finding resistance in the $58.00/bbl area. As I've stated before, oil does need to reach $60/bbl for global "happiness" on oil prices. Presidents Trump's comments to OPEC last week, stating oil was still to high, caused oil to take a hard hit last week.
Monday, we saw about a 3% loss, regained some strength during the week, and then took another roughly 2% hit on Friday.
For this week, oil can go either way.
If you are doing a Binary trade, I would suggest either going above/below Friday's closing price of $55.80/bbl. On Nadex, this would be your weekly contract. They currently set it to $55.75/bbl.
Happy Trading!
Zak
Crude Oil Bullish. high probability trade#USOIL, #WTI, OIL in range between 51.10 & 55.70 in whole month from 15th January. it tested support moving towards resistance.
